Surviving the monetary crisis<\/p>\n
PT Aneka Tambang Tbk<\/p>\n
Publicly listed mining company PT Aneka Tambang Tbk has
\nrecorded a Rp 251.81 billion net profit for this year's first
\nsemester -- a 949 percent increase over the Rp 24 billion
\nrecorded for the same period last year.<\/p>\n
PT Aneka Tambang Tbk is able to enjoy increased profits
\nbecause of its efforts to maximize operational efficiency, the
\ndepreciation of the rupiah against the U.S. dollar and increasing
\nrevenue from interest bearing accounts.<\/p>\n
Although the company has been able to take advantage of some
\ncircumstances arising from the economic crisis, it has also faced
\nhurdles from the country's ongoing problems, especially relating
\nto letters of credit with foreign creditors, which has forced a
\ndelay of certain goods needed for its operations.<\/p>\n
PT Aneka Tambang Tbk has been recognized as being in the
\nlowest exploration cost category in the world. The company
\nprimarily mines nickel and gold, as well as bauxite, iron, sand
\nand silver.<\/p>\n
Company sales are 96 percent dollar-driven, while 70 percent
\nof operation costs are denominated in rupiah. This is a major
\nfactor in enabling its earning power to substantially increase.<\/p>\n
About 85 percent of the company's products are exported to
\nJapan, China, Australia, Taiwan, the United Kingdom, Spain,
\nBelgium, Germany and Singapore.<\/p>\n
The key to success in maintaining and expanding market sales
\nis the company's commitment to producing high quality products to
\nISO 9002 standards, its commitment to deliver products requested
\nby customers and its consistency in giving the best competitive
\nprices.<\/p>\n
PT Aneka Tambang Tbk president director Ir. D. Aditya
\nSumanagara said the company's formula for success stemmed from
\nits 30-year track record in acquiring mining technology, its vast
\nexperience in resource exploration and a well-trained team of
\nprofessionals.<\/p>\n
PT Aneka Tambang Tbk maintains a competitive edge by producing
\nquality products at low prices and by realizing that quality
\nservice matters.<\/p>\n
Aditya said the company also strives to create a conducive
\nclimate both in the mining sector and the export sector,
\neliminate a high-cost economy, change the government's passive
\nattitudes to an assertive dynamic approach and push for new
\ngovernment regulations on taxes, retribution, licenses and value
\nadded taxes in the mining sector.<\/p>\n
PT Aneka Tambang Tbk continues to face the future by seeking
\nopportunities in exploration and by exporting mining products.<\/p>",
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"sponsor": "Okusi Associates",
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